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☆ Opinion | Silicon Valley’s MAGA Moment
▼ + stars: | 2024-09-25 | by ( Chris Hughes | ) www.nytimes.com time to read: +1 min

I co-founded Facebook in college 20 years ago, but I left California and start-up culture behind long ago for public policy and economics. As we sat over scrambled eggs, chicken sausage and whole-wheat toast, I was struck by how many of the wealthiest and most powerful figures in Silicon Valley — including some I knew — were now loudly backing Mr. Trump. Mr. Trump claims that Mark Zuckerberg called him to say that he wouldn’t support a Democrat in November, although Mr. Zuckerberg’s spokesperson denied the claim. It would be easy to write off tech’s rightward drift as nothing more than the rich acting in their economic self-interest, but Silicon Valley has always been driven by profit, and it hasn’t tilted Republican since the 1980s. Even now, it remains largely Democratic, even though even some of Kamala Harris’s strongest Valley supporters worry about how she might approach tech policy.

Persons: Donald Trump, Trump, —, Marc Andreessen, Ben Horowitz, Elon Musk, Mark Zuckerberg, Zuckerberg’s, Kamala Harris’s Organizations: Facebook Locations: Flatiron, Manhattan, California, Silicon Valley

☆ The truth about promotions
▼ + stars: | 2024-09-24 | by ( Aki Ito | ) www.businessinsider.com time to read: +9 min

That was obviously a bad idea, and since then, we've spent a century and a half honing the art and science of promotions. To study promotions, the researchers conducted a series of clever experiments. But in other groups, managers were selected based on their own preferences. What did much better at predicting good managers was intelligence, as measured by a common IQ test. "Don't think, well, they like to talk, and therefore they're going to be a good manager."

Persons: we've, we're, David Deming, It's, Dunning, Kruger, Mark Zuckerberg, Elon Musk, Deming, they'll, Aki Ito Organizations: National Bureau of Economic Research, Employees, Harvard Kennedy School, Harvard, Tech, Business Locations: America

☆ Mark Zuckerberg is now worth $200 billion, putting the Meta CEO in the world's most exclusive club
▼ + stars: | 2024-09-24 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Mark Zuckerberg is one of only three people in the ultra-exclusive $200 billion club. The Meta CEO has joined Elon Musk and Jeff Bezos after a $72 billion wealth surge this year. Bezos' net worth rebounded above $200 billion, while LVMH's Bernard Arnault crashed out of the club. AdvertisementMark Zuckerberg just joined a club that's even more exclusive than the $100 billion club. Zuckerberg has made the cut following an unmatched $72 billion increase in his wealth to $200 billion this year.

Persons: Mark Zuckerberg, Elon Musk, Jeff Bezos, LVMH's Bernard Arnault, —, Zuckerberg, That's Organizations: Elon, Service, Amazon, Bloomberg, Business

☆ Mark Zuckerberg has entered his libertarian era
▼ + stars: | 2024-09-24 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +1 min

In private, Zuckerberg identifies with the libertarian ideology, sources told the New York Times. AdvertisementOut of the public eye, Mark Zuckerberg identifies with libertarianism — or at least that's according to the few sources privy to his private political thoughts. As Zuckerberg attempts to convince Republicans that he, and his company Meta, are nonpartisan, sources told the New York Times that he's sunk into a political cynicism. Much of the animosity toward Zuckerberg trickles down from the top of the party, beginning with former President Donald Trump himself. Zuckerberg suspended Trump's Facebook account after the events of January 6 and thus ignited the former president's anger.

Persons: Zuckerberg, Zuck, —, Mark Zuckerberg, Brian Baker, Donald Trump Organizations: New York Times, Service, Republicans, Meta, Facebook

☆ Meta has a curious addiction to celebrities
▼ + stars: | 2024-09-24 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +5 min

Read previewMeta is reportedly set to introduce AI chatbots voiced by celebrities like John Cena, Awkwafina, Keegan-Michael Key, Kristen Bell, and Dame Judi Dench. (I assume that's the name of the Judi Dench stan-dom) who haven't yet found the right reason to experiment with an AI voice chatbot. Around this time last year, Meta introduced a different round of celebrity AI assistants as part of Messenger. So why is Meta using the celebrity AI playbook again if it apparently crashed and burned last time? AdvertisementHow celebrities can help MetaSo, Meta relying on celebrity voices for its AI products feels a little odd to me.

Persons: —, John Cena, Awkwafina, Keegan, Michael Key, Kristen Bell, Dame Judi Dench, Judi Dench stan, Meta, chatbots, Kendall Jenner, Tom Brady, Snoop Dogg, Billie, playbook, It's, Taylor Swift, Mark Zuckerberg, Swift, Kamala Harris, Peter Kafka, Kim Kardashian, Jennifer Lopez, Judi Dench, Yann LeCun Organizations: Service, Business, Meta, Super, Facebook, Dame

☆ Facebook cofounder Eduardo Saverin donated $15 million to a Singapore private school that charges up to $47,000 a year
▼ + stars: | 2024-09-23 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +1 min

Facebook cofounder Eduardo Saverin is currently the wealthiest person living in Singapore. He just donated $15 million to the Singapore American School. Go to newsletter preferences Thanks for signing up! AdvertisementMeta CEO Mark Zuckerberg's former business partner is making a massive donation to the Singapore American School. Facebook cofounder Eduardo Saverin donated 20 million Singapore dollars, or around $15.5 million, to SAS, the school announced on Friday.

Persons: Eduardo Saverin, —, Mark Zuckerberg's Organizations: Singapore American School, Service, Facebook, SAS, Business Locations: Singapore, Woodlands, Malaysia

☆ FTC chair Lina Khan explained how Americans lost their privacy protections to Big Tech
▼ + stars: | 2024-09-23 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

In a "60 Minutes" interview that aired Sunday, FTC Chair Lina Khan said allowing Big Tech to go through hundreds of acquisitions in the past several decades was a mistake that hurt Americans. An FTC spokesperson did not respond to a request for comment. "After some of those firms were bought up by one of the big guys, all of those data privacy policies changed overnight, and so Americans lost those privacy protections." A WhatsApp spokesperson told BI at the time that the company disagreed with the decision and that the penalties were "entirely disproportionate." An FTC spokesperson told CNN in 2023 that, under Khan, the agency has investigated or sued to stop more than three dozen merger proposals.

Persons: —, Lina Khan, Khan, Mark Zuckerberg's, we're, WhatsApp, Joe Biden, Kamala Harris, Reid Hoffman, Khan's, Matt Gaetz, Newsmax Organizations: Service, Trade, Big Tech, Business, Facebook, FTC, YouTube, Democratic, Republican, CNN, Florida, Street Journal Locations: Washington ,

☆ Even millennials are getting too old to land a tech job
▼ + stars: | 2024-09-23 | by ( Amanda Hoover | ) www.businessinsider.com time to read: +8 min

Newly released federal data shows the US tech workforce is younger than the workforce at large and getting younger still. Tech workers under 25 are becoming more common, while the proportion of workers older than 40 shrinks. There's an age-old perception that tech workers should be young so they can move fast and break things. One of the top qualifications to land a tech job, it seems, is to possess a birth certificate dated after 1990. Women make up just 22% of tech workers — the same proportion of jobs they held in 2005.

Persons: Z, Mark Zuckerberg, Maureen Clough, antiaging serums, Joanna Lahey, Lahey, ageism, John Zeman, Elon Musk, Zeman, John Rizzo, Rizzo, X, Daniel Jolles, Jolles, they're, Amanda Hoover Organizations: Tech, Commission, Texas, M University, Twitter, IBM, The London School of Economics, Business Locations: Silicon Valley, China

☆ Insider Today: Nike's airball
▼ + stars: | 2024-09-22 | by ( Matt Turner | ) www.businessinsider.com time to read: +5 min

Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This story is available exclusively to Business Insider subscribers. I'll be here on the weekend to break down some of the biggest stories in business and help you get ahead. The Oregon-based company last week announced Elliott Hill would return to the company as CEO, replacing John Donahue. AdvertisementAn internal "Frequently Asked Questions" document, obtained by Business Insider, outlined how the RTO plan will work.

Persons: —, Matt Turner, Donald Trump, There's, It's, it's, Elliott Hill, John Donahue, Dre Waltizer, Jeff Chiu, Alyssa Powell, Larry, Wayne Osborne, Osborne, Wayne, Andy Jassy, David X Prutting, Paul Porter, Rebecca Zisser, Alexander brothers, Oren, Alon, Tal Alexander, iStock, — Mark Zuckerberg, Taylor Swift Organizations: Service, Fed, Nike, Business, Investors, Google Locations: China, The Oregon

☆ Mark Zuckerberg says his goal for the next decade is to build open-source platforms and have them win
▼ + stars: | 2024-09-22 | by ( Katie Balevic | ) www.businessinsider.com time to read: +1 min

Mark Zuckerberg is committed to building a winning open-source platform. On a podcast, Zuckerberg discussed the ideological tug-of-war between open- and closed-source tech. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementMeta CEO Mark Zuckerberg wants to go all in on open-source.

Persons: Mark Zuckerberg, Zuckerberg, Meta, — Organizations: Service, Business Locations: San Francisco

☆ As threats grow, funds for election security see a squeeze
▼ + stars: | 2024-09-21 | by ( Bob Ortega | Anna-Maja Rappard | ) edition.cnn.com time to read: +17 min

That’s why Maricopa County has spent over $864,000 in federal funds and more than $3 million in county funds to bolster its election security and processes over the past four years. Officials readily shared their worries with CNN, citing death threats, harassment, baseless lawsuits, onerous public-records requests and various security threats spurred by false claims about voter fraud. Amid these challenges, budgets for election security have been squeezed in several ways. Thousands of election workers across the country have reported receiving harassing, offensive or hostile communications, including since the 2022 midterms, according to the Department of Justice’s Election Threats Task Force. As recently as Tuesday, Trump threatened to prosecute and imprison election officials if he wins in November, as he cast doubt on the integrity of the upcoming election.

Persons: ”, Bill Gates, MAGA, Donald Trump’s, —, Ben Hovland, ” Hovland, ” Ben Hovland, Patrick Semansky, Hovland, Joe Biden, Biden, Sen, James Lankford, “, Louisiana hasn’t, they’ll, Colorado —, CNN they’ve, “ We’re, they’ve, John Michael Catalano, Elijah Nouvelage, Isaac Cramer, Katharine Clark, we’re, Cramer, Mark Zuckerberg, Priscilla Chan, Zuckerberg, Trump, Chan, George Christenson, Republicans don’t, Jim Jordan of, Alex Jones swooped, Kelli Ward, Rudy Giuliani, Mark Meadows, Jenna Ellis, Kari Lake, She’s, Stephen Richer, Michael Chow, who’ve, Judge Scott Blaney, denialism, Kamala Harris, Arizona’s, Jeff Woolf, ” Woolf Organizations: Phoenix CNN, county’s, Supervisors, CNN, “, U.S, Election, Commission, National Association of, State, Help, Congress, FBI, US Postal Service, Tech, Civil, Center, Election Innovation, Research, Department, Force, South Carolina, South, Charleston County, Facebook, Democratic, Biden, Trump, FEC, GOP, Republicans, Democrats, Arizona Senate Republican, USA, Network, Arizona Superior Court, Republican Locations: Maricopa, Maricopa County, Washington, California , Georgia, Nevada , Oregon , Texas, Arizona , Georgia, North Carolina, Takoma Park , Maryland, Oklahoma, “ Louisiana, Nevada, Michigan, Louisiana, Delaware, Virginia, Colorado, Arizona, Georgia, Oregon, South, South Carolina, Fulton County, Atlanta, Charleston, Santa Fe , New Mexico, Pennsylvania, In Wisconsin, Milwaukee County, Wisconsin, Jim Jordan of Ohio, China, Republic

☆ Mark Zuckerberg says leaders should have technical skills if they want to call themselves a tech company
▼ + stars: | 2024-09-21 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +1 min

Mark Zuckerberg thinks some self-proclaimed tech firms are lacking technical leadership. He said board members and management should have technical skills if they want to be known as a "tech" company. Go to newsletter preferences Thanks for signing up! AdvertisementWhat makes a tech company a tech company? According to Mark Zuckerberg, the answer is the technical skills of the people in charge.

Persons: Mark Zuckerberg, he's, —, Zuckerberg Organizations: Service, Facebook, Harvard, Business Locations: Silicon

☆ Mark Zuckerberg told his daughter she can't be Taylor Swift. A therapist said it's a great lesson for parents.
▼ + stars: | 2024-09-20 | by ( Julia Pugachevsky | ) www.businessinsider.com time to read: +4 min

Read previewBetween her vulnerable songs and stadium shows that somehow still feel intimate, Taylor Swift has captured the hearts of so many around the world — not least young girls. In a recent interview for the podcast "Acquired," Zuckerberg recounted taking August to a Taylor Swift concert. That's not available to you,'" Zuckerberg told hosts Ben Gilbert and David Rosenthal. "His advice to his daughter to aspire to be herself, not Taylor Swift or some other icon, I do think it's an important reminder for all parents," Wright said. In a previous interview with CBS's Gayle King, Zuckerberg said he gives his kids chores such as loading the dishwasher.

Persons: —, Taylor Swift, Mark Zuckerberg's, August Chan Zuckerberg, Zuckerberg, Taylor, Swift, Ben Gilbert, David Rosenthal, Chan Zuckerberg, Annie Wright, Wright, Gen Zers, Gen Alphas, he's, CBS's Gayle King Organizations: Service, Business Locations: Maine

☆ Mark Zuckerberg's starry watch isn't just the price of a Cybertruck, it's another major step up in his style game
▼ + stars: | 2024-09-19 | by ( Aditi Bharade | Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +5 min

Read previewHere's the latest sign of Mark Zuckerberg's style evolution — a luxury watch depicting the Milky Way. Mark Zuckerberg spotted yesterday during the @AcquiredFM live wearing a DB25 Starry Varius in rose gold from De Bethune. 👀 pic.twitter.com/raZRTyzmAz — ZwapX (@zwapxofficial) September 11, 2024This is not the first premium watch Zuckerberg has been spotted wearing. "His recent style evolution, shown by a love for premium watches and subtle luxury, suggests a shift." To be sure, Zuckerberg's style evolution might have less to do with aesthetics and more to do with an intentional strategy to cultivate a relatable and attractive personal image.

Persons: —, Mark, De Bethune, Bryan Li, Mark Zuckerberg, De, 👀, ove Organizations: Service, De Bethune DB, Business, Swiss Locations: De Bethune, ife

☆ Mark Zuckerberg's latest splurge is a $260,000 watch 'created from a meteorite'
▼ + stars: | 2024-09-19 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +1 min

The Meta CEO sported a watch, the De Bethune DB25 Starry Varius Aérolite, at a podcast event last week. The watch costs an estimated $260,000 and only five are made a year. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementMark Zuckerberg's newest flashy accessory isn't another chain necklace — it's an ultra-rare watch.

Persons: Mark Zuckerberg, De Bethune, —, Bethune Organizations: Service, Chase Center Locations: San Francisco

☆ CNBC Daily Open: Hoping for a half-point cut
▼ + stars: | 2024-09-18 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Anna Moneymaker | Getty Images News | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Without any warning signs flashing red, it's difficult for the Fed to justify lowering rates by more than a quarter point. That's why some economists and analysts hope the Fed will cut by half a point. "But I suspect they'll cut 25," Zandi added.

Persons: Anna Moneymaker, Mark Zandi, they'll, Zandi, Hope, Jeff Cox, Hakyung Kim, Samantha Subin Organizations: Federal Reserve, Getty, CNBC, Dow, Moody's Locations: Washington , DC, U.S

☆ CNBC Daily Open: Hoping for a 50-basis-point cut
▼ + stars: | 2024-09-18 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Persons: Anna Moneymaker, Mark Zandi, they'll, Zandi, Hope, Jeff Cox, Hakyung Kim, Samantha Subin Organizations: Federal Reserve, Getty, CNBC, Dow, Moody's Locations: Washington , DC, U.S

☆ Mark Zuckerberg's daughter August said she wanted to be like Taylor Swift one day, but he shot that down real quick
▼ + stars: | 2024-09-18 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Mark Zuckerberg's daughter told him that she wanted to be like Taylor Swift when she grew up. That's not available to you,'" Zuckerberg said he told his daughter. Go to newsletter preferences Thanks for signing up! AdvertisementMeta CEO Mark Zuckerberg says his seven-year-old daughter once told him that she wanted to be like Taylor Swift when she grew up. Zuckerberg brought up a conversation he had with his daughter, August, during a live interview on the "Acquired" podcast.

Persons: Mark Zuckerberg's, Taylor Swift, Zuckerberg, Swift, —, Mark Zuckerberg, Priscilla Chan Organizations: Service, Business

☆ Big Tech companies are getting flatter. Mark Zuckerberg explained why over a year ago.
▼ + stars: | 2024-09-18 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +5 min

Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The move furthers the Big Tech trend of flattening org charts that Mark Zuckerberg and others like Elon Musk have talked about in recent years while preaching the need for efficiency. Related stories"I don't think you want a management structure that's just managers managing managers, managing managers, managing managers, managing the people who are doing the work," the Meta CEO reportedly said in an internal meeting in January 2023. Before Meta's layoffs, Zuckerberg said he inquired about the average number of direct reports each manager had at Meta and learned it was around three to four. AdvertisementBut if Amazon is following Meta and other Big Tech companies' lead — don't be surprised if a middle-management culling is on the horizon.

Persons: —, Mark Zuckerberg, Elon, Andy Jassy, he's, Jassy, Zuckerberg, Meta, Shopify, Brian Chesky, Business Insider's Ashley Stewart Organizations: Service, Amazon, Business, Meta, Wall Street, Big Tech Locations: Silicon Valley, Airbnb

☆ Mark Zuckerberg says Apple's culture is very different than Meta's — and the two rivals will be battling on multiple fronts
▼ + stars: | 2024-09-18 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +1 min

Meta and Apple have had a rivalry for years, and Meta's Mark Zuckerberg only expects it to grow. On the "Acquired" podcast, he said Apple will be Meta's "primary competitor" in the next decade. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementMeta and Apple have increasingly been rivals, and Mark Zuckerberg only expects their competition to intensify in the coming years.

Persons: Meta's Mark Zuckerberg, Zuck, Apple, —, Mark Zuckerberg Organizations: Apple, Meta, Service, Business

But a series of data points showing worsening economic conditions has made some analysts believe a 0.5% cut is more likely — and perhaps even necessary. “We do not seek or welcome further cooling in labor market conditions,” Fed Chair Jay Powell said in a speech last month. “A (0.5%) cut is usually done in emergencies,” like the Covid-19 pandemic, said Mark Zandi, chief economist at Moody’s financial group. Mortgage interest rates have hit their lowest level since February 2023, while auto loan rates are also falling. A 0.5% cut would more directly affect rates tied to the fed funds rate, including credit cards, home equity lines of credit and small-business loans.

Persons: Steve Liesman, Jay Powell, Bill Dudley, ” Dudley, Preston Mui, Mui, ”, “, Mark Zandi, Greg McBride, ” McBride Organizations: Federal, CNBC, Wall, Minneapolis Federal Reserve, Federal Reserve Bank of New, Bloomberg News, Fed, Bankrate Locations: Minneapolis, Federal Reserve Bank of New York, America

☆ Oracle's Larry Ellison is now the world's 4th-richest person after a $57 billion wealth surge this year
▼ + stars: | 2024-09-17 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Larry Ellison surged past LVMH chief Bernard Arnault to become the world's fourth-richest person. Oracle's cofounder is worth $181 billion after gaining nearly $58 billion this year, per Bloomberg. Go to newsletter preferences Thanks for signing up! AdvertisementLarry Ellison has overtaken Bernard Arnault to become the world's fourth-richest person with a $181 billion fortune. His net worth has soared by $57.8 billion since then, making him the third-biggest wealth gainer after Meta CEO Mark Zuckerberg, up $61.4 billion, and Nvidia CEO Jensen Huang, up $58.5 billion.

Persons: Larry Ellison, Bernard Arnault, —, leapfrogged, Ellison, Mark Zuckerberg, Jensen Huang Organizations: Bloomberg, Service, Nvidia, Business

☆ The Fed's biggest interest rate call in years happens Wednesday. Here's what to expect
▼ + stars: | 2024-09-17 | by ( Jeff Cox | ) www.cnbc.com time to read: +7 min

The meeting wraps up Wednesday afternoon, with the release of the Fed's rate decision coming at 2 p.m. "I hope they cut 50 basis points, but I suspect they'll cut 25. Here's a breakdown of what's on tap:The rate waitThe FOMC has been holding its benchmark fed funds rate in a range between 5.25%-5.5% since it last hiked in July 2023. The 'dot plot'Perhaps just as important as the rate cut will be the signals meeting participants send about where they expect rates to go from here. In June, FOMC members penciled in just one rate cut through the end of the year.

Persons: Jerome Powell, William McChesney Martin Jr, Andrew Harnik, they'll, Mark Zandi, that's, Tom Simons, Zandi, Robert Kaplan, There'll, Seema Shah, FOMC, Moody's, Goldman Sachs, Powell presser, Goldman, Simons Organizations: Federal Reserve, Committee, Moody's, Wall, Jefferies, Dallas Fed, CNBC, Asset Management Locations: Washington , DC

☆ Instagram will force millions of teens into protected accounts
▼ + stars: | 2024-09-17 | by ( Clare Duffy | ) edition.cnn.com time to read: +6 min

Instagram will automatically apply the new “teen accounts” settings to all users under the age of 18. The revision will allow teen users to receive messages only from people they are already connected to. The shift limits the types of “sensitive” content teens can see on their Explore page and in Reels, such as posts promoting cosmetic procedures. Teen users will also receive time limit reminders nudging them to leave after spending 1 hour on the app each day. The company says it is implementing artificial intelligence technology that will aim to identify teen accounts that may have wrongly listed an adult birthdate.

Persons: Instagram, ”, ramped, Arturo Bejar, Mark Zuckerberg, Zuckerberg, Meta, ’ Organizations: New, New York CNN, Tuesday, Meta, Teen, Advisory Locations: New York, United States, United Kingdom, Canada, Australia

☆ Markets are poised for a 50bps cut, but this is a 'much more cautious Fed', says Moody's Mark Zandi
▼ + stars: | 2024-09-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarkets are poised for a 50bps cut, but this is a 'much more cautious Fed', says Moody's Mark ZandiMark Zandi, Moody’s, joins 'Fast Money' to talk what he would like to see from the Federal Reserve moving forward.

Persons: Mark Zandi Mark Zandi Organizations: Markets, Federal Reserve

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